General Motors Financial Company (GM Financial) has acquired the car finance operations of Ally Financial in Brazil.
GM Financial, a wholly-owned subsidiary of General Motors, has acquired the operations of Ally in multiple markets across Europe, including the UK, and the Americas.
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The acquisitions have brought much of GM’s finance proposition back in-house after the Detroit-based carmaker sold many of the original businesses to Ally as the worst of the post-2008 recession took hold.
With approval pending on a joint venture in China, GM Financial expects to soon be operating in 19 markets, covering 80% of GM’s worldwide sales volume across more than 16,000 motor dealers.
richard.brown@timetric.com
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